DexCom (NASDAQ:DXCM) Sees Unusually-High Trading Volume

DexCom, Inc. (NASDAQ:DXCM) saw strong trading volume on Monday . 2,615,493 shares were traded during mid-day trading, a decline of 20% from the previous session’s volume of 3,263,613 shares.The stock last traded at $66.84 and had previously closed at $64.00.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DXCM. Barclays decreased their price target on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Monday. Piper Sandler decreased their target price on DexCom from $150.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday. Citigroup raised their price target on DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lowered shares of DexCom from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $145.00 to $75.00 in a research report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of DexCom from $145.00 to $80.00 and set an “overweight” rating for the company in a report on Friday. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.50.

DexCom Price Performance

The company has a market capitalization of $27.29 billion, a PE ratio of 43.57, a PEG ratio of 1.58 and a beta of 1.16. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average price is $115.28 and its 200-day moving average price is $123.76.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, sell-side analysts forecast that DexCom, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at DexCom

In other news, EVP Michael Jon Brown sold 659 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $114.29, for a total value of $75,317.11. Following the completion of the sale, the executive vice president now owns 66,901 shares of the company’s stock, valued at $7,646,115.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Michael Jon Brown sold 659 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $114.29, for a total value of $75,317.11. Following the completion of the sale, the executive vice president now owns 66,901 shares in the company, valued at $7,646,115.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bridgette P. Heller sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the transaction, the director now directly owns 25,349 shares in the company, valued at $2,878,378.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,112 shares of company stock worth $480,861. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Large investors have recently added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of DexCom by 8.7% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 3,750 shares of the medical device company’s stock worth $465,000 after acquiring an additional 299 shares in the last quarter. Fifth Third Bancorp raised its position in shares of DexCom by 12.8% in the 4th quarter. Fifth Third Bancorp now owns 25,429 shares of the medical device company’s stock valued at $3,155,000 after purchasing an additional 2,894 shares in the last quarter. Chicago Capital LLC boosted its stake in shares of DexCom by 6.8% during the 4th quarter. Chicago Capital LLC now owns 677,188 shares of the medical device company’s stock valued at $84,032,000 after buying an additional 43,161 shares during the last quarter. Patten & Patten Inc. TN grew its position in shares of DexCom by 1.8% during the fourth quarter. Patten & Patten Inc. TN now owns 46,122 shares of the medical device company’s stock worth $5,723,000 after buying an additional 825 shares in the last quarter. Finally, WoodTrust Financial Corp increased its stake in shares of DexCom by 5.0% in the fourth quarter. WoodTrust Financial Corp now owns 12,560 shares of the medical device company’s stock worth $1,558,000 after buying an additional 600 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.